Silverlake Axis Wins SBR International Business Award for Seamless Core Banking Migration

Silverlake Axis wins SBR International Business Award 2024 for seamless core banking migration in ASEAN, reducing data migration costs by 40% and setting a new standard for efficient technology integration in the financial sector.

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Ayesha Mumtaz
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Silverlake Axis Wins SBR International Business Award for Seamless Core Banking Migration

Silverlake Axis Wins SBR International Business Award for Seamless Core Banking Migration

Silverlake Axis, a leading technology solutions provider, has been awarded the SBR International Business Award 2024 for its successful delivery of the first seamless core banking migration in ASEAN.

The company achieved this feat for a large Singapore bank's acquisition in Malaysia, Indonesia, Thailand, and Vietnam, reducing overall data migration costs by an impressive 40%.

The award recognizes Silverlake Axis' innovative approach and expertise in delivering complex technology solutions across multiple countries. By utilizing its advanced tools and methodologies, the company was able to streamline the migration process, ensuring a smooth transition for the bank's operations in the region.

The seamless core banking migration marks a significant milestone for the financial sector in ASEAN, as it demonstrates the possibility of efficient and cost-effective technology integration across borders. Silverlake Axis' achievement showcases the company's commitment to driving digital transformation and supporting the growth of the banking industry in the region.

Why this matters: Silverlake Axis' award-winning project sets a new standard for core banking migrations in ASEAN, laying the groundwork for more efficient and cost-effective technology integrations in the financial sector. This achievement has the potential to accelerate digital transformation and foster greater collaboration among banks in the region.

The successful migration not only resulted in significant cost savings for the Singapore bank but also laid the foundation for enhanced operational efficiency and improved customer experiences across its acquired entities. Silverlake Axis' expertise in delivering such a complex project highlights the company's position as a trusted partner for financial institutions seeking to modernize their technology infrastructure.

Key Takeaways

  • Silverlake Axis awarded SBR International Business Award 2024 for seamless core banking migration
  • Reduced data migration costs by 40% for a large Singapore bank's acquisition in ASEAN
  • Showcased expertise in delivering complex technology solutions across multiple countries
  • Milestone for ASEAN financial sector, demonstrating efficient and cost-effective technology integration
  • Potential to accelerate digital transformation and foster greater collaboration among ASEAN banks